woman sending money abroad

The cheapest, safest way to send money abroad

What are your priorities when you send money to a loved one abroad? For most people, it’s a combination of price, speed and safety. In this article we’ll show you how to get cheap, safe money transfers at a great exchange rate while paying one low fee. 

How to get the best value when sending money abroad

It’s human nature to look for a bargain, but eye-catching exchange rates aren’t always the great deal that they initially seem. A good provider won’t just offer you a great exchange rate, they’ll also charge a low fee while keeping your money safe.

When you’re choosing who to trust with your money, look for a combination of the following:

  • The best exchange rate. 
  • Low fees. 
  • Fast delivery. 
  • Bank-level security technology.

According to data from the World Bank, sending money with Azimo is up to 90% cheaper than using your bank or a high street money transfer provider. Even better, instant or one-hour delivery is available to more than 80 countries.

How to keep your money safe

If you’re going to trust a company with your money, make sure that they’re properly regulated. 

Financial services in the UK are regulated by the Financial Conduct Authority (FCA). Companies are either “registered with” the FCA or “authorised by” the FCA, but what’s the difference?

Authorised by the FCA

Authorised services have to prove that the client’s money (that’s your cash) is kept separate from the company’s accounts and cash flow. This way, if the business runs into any financial problems then you are less likely to lose your money.

Registered with the FCA

Companies that are registered with the FCA only have to prove that they are based in the UK and that their directors have not been convicted of any financial crimes. This is a lower level of protection for you as a consumer.

Is Azimo authorised by or registered with the FCA?

Azimo is authorised by the FCA in the UK – meaning that we conform to a higher level of standards than registered companies. We’re also regulated by DNB in the Netherlands – which is part of a similar system that covers all countries in the European Union. 

FCA authorisation does not guarantee the safety of your money, but it is an indicator that the company is legitimate. Thankfully, Azimo also offers the latest in anti-fraud and encryption technology, so your transfers are safe and secure on every step of the journey.

Tips for getting the best exchange rates

Exchange rates change all the time. In fact, we wrote a whole article explaining exchange rate fluctuation. Even in stable economies, exchange rates go up and down on an hourly basis. The difference might appear small in percentage terms, but it soon adds up when you’re sending hundreds and thousands of pounds abroad. 

A simple search engine query will tell you the current, i.e. the mid-market exchange rates between currencies. This gives you a guide to what your recipient should expect to receive at the other end. For more useful tips, have a look at our guide to getting the best exchange rates

Azimo often has the best exchange rates on the market and our service has received more than 30,000 five-star reviews on Trustpilot. Check out an independent comparison site like Monito.com to see for yourself how our rates compare to the competition.   

How to pay the lowest fees when transferring money abroad

“Admin costs”, “surcharges”, even “taxes”. No matter what they’re called, these hidden charges all take money out of your pocket. When you send money abroad, look for a provider that offers a single, clear and honest transfer fee.

Sending money with your bank might seem like a good idea. After all, they handle your current account and they’re famously safe. But they’re also the biggest culprits when it comes to hidden charges for sending money abroad. 

In fact, we’ve written a guide on why you should avoid using a bank to send money overseas

As well as banks, high street money transfer providers also love to advertise great rates while failing to mention all their hidden charges.

As an online business, we can afford to offer great service, low rates and two fee-free transfers (five for business customers) when you register with us. We offer instant or one-hour delivery to more than 80 countries and deliver to over 300,000 pick-up locations globally. 

How to get fast cash pick-up transfers

Azimo works with a large network of local partners, pick up locations and a variety of delivery methods to make sure your money is transferred in the fastest way possible. 

We operate in 25 sending markets and 200+ receiving countries and territories, with instant or one-hour transfers available to many.

For example, we work with the M-Pesa mobile service in Kenya, where nearly half the population don’t have access to a bank account. This makes Azimo one of the fastest ways to get cash to friends and relatives in East Africa.

Register with Azimo

Azimo is the faster, cheaper way to send money to more than 200 countries and territories worldwide. It takes just two minutes to create an account and start sending money. Register today for two fee-free transfers (five if you’re a verified business).